Common use of Payments by Banks Clause in Contracts

Payments by Banks. In the event that the Borrowers shall fail to reimburse the Issuing Bank as provided in subsection 3.03 in an amount equal to the amount of any drawing honored by the Issuing Bank under a Letter of Credit issued by it, the Issuing Bank shall promptly notify each Bank of the unreimbursed amount of such drawing and of such Bank's respective participation therein. Each Bank shall make available to the Issuing Bank an amount equal to its respective participation in same day funds, at the office of the Issuing Bank specified in such notice, not later than 1:00 P.M. in the time zone of the Issuing Bank on the Business Day after the date notified by the Issuing Bank. In the event that any Bank fails to make available to the Issuing Bank the amount of such Bank's participation in such Letter of Credit as provided in this subsection 3.04, the Issuing Bank shall be entitled to recover such amount on demand from such Bank together with interest at the customary rate set by the Issuing Bank for the correction of errors among banks. Nothing in this subsection 3.04 shall be deemed to prejudice the right of any Bank to recover from the Issuing Bank any amounts made available by such Bank to the Issuing Bank pursuant to this subsection 3.04 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit by the Issuing Bank in respect of which payment was made by such Bank constituted gross negligence or willful misconduct on the part of the Issuing Bank. The Issuing Bank shall distribute to each other Bank which has paid all amounts payable by it under this subsection 3.04 with respect to any Letter of Credit issued by the Issuing Bank such other Bank's pro rata share (determined based on the Bank's Percentage) of all payments received by the Issuing Bank from the Borrowers in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit when such payments are received.

Payments by Banks. In (i) If the event Borrower fails to pay any LC Reimbursement Obligation in full when due, the relevant LC Issuing Bank may notify the Agent of the unreimbursed amount and request that the Borrowers shall fail to Banks reimburse the such LC Issuing Bank as provided in subsection 3.03 in an amount equal to the amount of for their respective Commitment Percentages thereof. Promptly after it receives any drawing honored by the Issuing Bank under a Letter of Credit issued by itsuch notice, the Issuing Bank Agent shall promptly notify each Bank of the unreimbursed amount of such drawing and of such Bank's respective participation thereinCommitment Percentage thereof. Each Upon receiving such notice from the Agent, each Bank shall make available to the such LC Issuing Bank Bank, at its address specified in or pursuant to Section 10.01, an amount equal to its respective participation such Bank's Commitment Percentage of such unreimbursed amount, in same Federal or other funds immediately available to such LC Issuing Bank, by 3:00 P.M. (New York City time) (A) on the day fundssuch Bank receives such notice if it is received at or before 12:00 Noon (New York City time) on such day or (B) on the next Domestic Business Day if such notice is received after 12:00 Noon (New York City time) on the date of receipt, in each case together with interest on such amount for each day from and including the relevant LC Payment Date to but excluding the day such payment is due from such Bank at the office Federal Funds Rate for such day. Upon payment in full thereof, such Bank shall be subrogated to the rights of such LC Issuing Bank against the Borrower to the extent of such Bank's Commitment Percentage of the Issuing Bank specified in such notice, not later than 1:00 P.M. in the time zone of the Issuing Bank on the Business Day after the date notified by the Issuing Bank. In the event that related LC Reimbursement Obligation (including interest accrued thereon). (ii) If any Bank fails to make available pay when due any amount to the Issuing Bank the amount be paid by it pursuant to clause (i) of this subsection, interest shall accrue on such Bank's participation in obligation to make such Letter of Credit as provided in this subsection 3.04payment, for each day from and including the date such payment became due to but excluding the date such Bank makes such payment, at a rate per annum equal to (x) for each day from the day such payment is due to the third succeeding Domestic Business Day, inclusive, the Federal Funds Rate for such day and (y) for each day thereafter the sum of 2% PLUS the Base Rate for such day. (iii) If the Borrower shall reimburse any LC Issuing Bank for any drawing with respect to which any Bank shall have made funds available to such LC Issuing Bank in accordance with clause (i) of this subsection, such LC Issuing Bank shall be entitled promptly upon receipt of such reimbursement distribute to recover such amount on demand from such Bank together with interest at its Commitment Percentage thereof, including interest, to the customary rate set by the Issuing Bank for the correction of errors among banks. Nothing in this subsection 3.04 shall be deemed to prejudice the right of any Bank to recover from the Issuing Bank any amounts made available extent received by such Bank to the Issuing Bank pursuant to this subsection 3.04 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit by the Issuing Bank in respect of which payment was made by such Bank constituted gross negligence or willful misconduct on the part of the LC Issuing Bank. The Issuing Bank shall distribute to each other Bank which has paid all amounts payable by it under this subsection 3.04 with respect to any Letter of Credit issued by the Issuing Bank such other Bank's pro rata share (determined based on the Bank's Percentage) of all payments received by the Issuing Bank from the Borrowers in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit when such payments are received.

Payments by Banks. In (i) If the event Borrower fails to pay any LC Reimbursement Obligation in full when due, the relevant LC Issuing Bank may notify the Administrative Agent of the unreimbursed amount and request that the Borrowers shall fail to Banks reimburse the such LC Issuing Bank as provided in subsection 3.03 in an amount equal to the amount of for their respective Revolving Commitment Percentages thereof. Promptly after it receives any drawing honored by the Issuing Bank under a Letter of Credit issued by itsuch notice, the Issuing Bank Administrative Agent shall promptly notify each Bank of the unreimbursed amount of such drawing and of such Bank's respective participation thereinRevolving Commitment Percentage thereof. Each Upon receiving such notice from the Administrative Agent, each Bank shall make available to the such LC Issuing Bank Bank, at its address specified in or pursuant to Section 9.01, an amount equal to its respective participation such Bank's Revolving Commitment Percentage of such unreimbursed amount, in same Federal or other funds immediately available to such LC Issuing Bank, by 2:00 P.M. (Kansas City time) (A) on the day fundssuch Bank receives such notice if it is received at or before 12:00 Noon (Kansas City time) on such day or (B) on the next Domestic Business Day if such notice is received after 12:00 Noon (Kansas City time) on the date of receipt, in each case together with interest on such amount for each day from and including the relevant LC Payment Date to but excluding the day such payment is due from such Bank at the office Federal Funds Rate for such day. Upon payment in full thereof, such Bank shall be subrogated to the rights of such LC Issuing Bank against the Borrower to the extent of such Bank's Revolving Commitment Percentage of the Issuing Bank specified in such notice, not later than 1:00 P.M. in the time zone of the Issuing Bank on the Business Day after the date notified by the Issuing Bank. In the event that related LC Reimbursement Obligation (including interest accrued thereon). (ii) If any Bank fails to make available pay when due any amount to the Issuing Bank the amount be paid by it pursuant to clause (i) of this subsection, interest shall accrue on such Bank's participation in obligation to make such Letter of Credit as provided in this subsection 3.04payment, for each day from and including the date such payment became due to but excluding the date such Bank makes such payment, at a rate per annum equal to (x) for each day from the day such payment is due to the third succeeding Domestic Business Day, inclusive, the Federal Funds Rate for such day and (y) for each day thereafter the sum of 2% plus the Base Rate for such day. (iii) If the Borrower shall reimburse any LC Issuing Bank for any drawing with respect to which any Bank shall have made funds available to such LC Issuing Bank in accordance with clause (i) of this subsection, such LC Issuing Bank shall be entitled promptly upon receipt of such reimbursement distribute to recover such amount on demand from such Bank together with interest at its Revolving Commitment Percentage thereof, including interest, to the customary rate set by the Issuing Bank for the correction of errors among banks. Nothing in this subsection 3.04 shall be deemed to prejudice the right of any Bank to recover from the Issuing Bank any amounts made available extent received by such Bank to the Issuing Bank pursuant to this subsection 3.04 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit by the Issuing Bank in respect of which payment was made by such Bank constituted gross negligence or willful misconduct on the part of the LC Issuing Bank. The Issuing Bank shall distribute to each other Bank which has paid all amounts payable by it under this subsection 3.04 with respect to any Letter of Credit issued by the Issuing Bank such other Bank's pro rata share (determined based on the Bank's Percentage) of all payments received by the Issuing Bank from the Borrowers in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit when such payments are received.

Payments by Banks. In (i) If the event Borrower fails to pay any LC Reimbursement Obligation in full when due, the relevant LC Issuing Bank may notify the Administrative Agent of the unreimbursed amount and request that the Borrowers shall fail to Banks reimburse the such LC Issuing Bank as provided in subsection 3.03 in an amount equal to the amount of for their respective Commitment Percentages thereof. Promptly after it receives any drawing honored by the Issuing Bank under a Letter of Credit issued by itsuch notice, the Issuing Bank Administrative Agent shall promptly notify each Bank of the unreimbursed amount of such drawing and of such Bank's respective participation thereinCommitment Percentage thereof. Each Upon receiving such notice from the Administrative Agent, each Bank shall make available to the such LC Issuing Bank Bank, at its address specified in or pursuant to Section 10.01, an amount equal to its respective participation such Bank's Commitment Percentage of such unreimbursed amount, in same Federal or other funds immediately available to such LC Issuing Bank, by 3:00 P.M. (New York City time) (A) on the day fundssuch Bank receives such notice if it is received at or before 12:00 Noon (New York City time) on such day or (B) on the next Domestic Business Day if such notice is received after 12:00 Noon (New York City time) on the date of receipt, in each case together with interest on such amount for each day from and including the relevant LC Payment Date to but excluding the day such payment is due from such Bank at the office Federal Funds Rate for such day. Upon payment in full thereof, such Bank shall be subrogated to the rights of such LC Issuing Bank against the Borrower to the extent of such Bank's Commitment Percentage of the Issuing Bank specified in such notice, not later than 1:00 P.M. in the time zone of the Issuing Bank on the Business Day after the date notified by the Issuing Bank. In the event that related LC Reimbursement Obligation (including interest accrued thereon). (ii) If any Bank fails to make available pay when due any amount to the Issuing Bank the amount be paid by it pursuant to clause (i) of this subsection, interest shall accrue on such Bank's participation in obligation to make such Letter of Credit as provided in this subsection 3.04payment, for each day from and including the date such payment became due to but excluding the date such Bank makes such payment, at a rate per annum equal to (x) for each day from the day such payment is due to the third succeeding Domestic Business Day, inclusive, the Federal Funds Rate for such day and (y) for each day thereafter the sum of 2% PLUS the Base Rate for such day. (iii) If the Borrower shall reimburse any LC Issuing Bank for any drawing with respect to which any Bank shall have made funds available to such LC Issuing Bank in accordance with clause (i) of this subsection, such LC Issuing Bank shall be entitled promptly upon receipt of such reimbursement distribute to recover such amount on demand from such Bank together with interest at its Commitment Percentage thereof, including interest, to the customary rate set by the Issuing Bank for the correction of errors among banks. Nothing in this subsection 3.04 shall be deemed to prejudice the right of any Bank to recover from the Issuing Bank any amounts made available extent received by such Bank to the Issuing Bank pursuant to this subsection 3.04 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit by the Issuing Bank in respect of which payment was made by such Bank constituted gross negligence or willful misconduct on the part of the LC Issuing Bank. The Issuing Bank shall distribute to each other Bank which has paid all amounts payable by it under this subsection 3.04 with respect to any Letter of Credit issued by the Issuing Bank such other Bank's pro rata share (determined based on the Bank's Percentage) of all payments received by the Issuing Bank from the Borrowers in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit when such payments are received.

Payments by Banks. In (A) If the event Borrower fails to pay any LC Reimbursement Obligation in full when due, the relevant LC Issuing Bank may notify the Agent of the unreimbursed amount and request that the Borrowers shall fail to Banks reimburse the such LC Issuing Bank as provided in subsection 3.03 in an amount equal to the amount of for their respective Commitment Percentages thereof. Promptly after it receives any drawing honored by the Issuing Bank under a Letter of Credit issued by itsuch notice, the Issuing Bank Agent shall promptly notify each Bank of the unreimbursed amount of such drawing and of such Bank's respective participation thereinCommitment Percentage thereof. Each Upon receiving such notice from the Agent, each Bank shall make available to the such LC Issuing Bank Bank, at its address specified in or pursuant to Section 10.01, an amount equal to its respective participation such Bank's Commitment Percentage of such unreimbursed amount, in same Federal or other funds immediately available to such LC Issuing Bank, by 3:00 P.M. (New York time) (i) on the day fundssuch Bank receives such notice if it is received at or before 12:00 Noon (New York time) on such day or (ii) on the next Domestic Business Day if such notice is received after 12:00 Noon (New York time) on the date of receipt, in each case together with interest on such amount for each day from and including the relevant LC Payment Date to but excluding the day such payment is due from such Bank at the office Federal Funds Rate for such day. Upon payment in full thereof, such Bank shall be subrogated to the rights of such LC Issuing Bank against the Borrower to the extent of such Bank's Commitment Percentage of the Issuing Bank specified in such notice, not later than 1:00 P.M. in the time zone of the Issuing Bank on the Business Day after the date notified by the Issuing Bank. In the event that related LC Reimbursement Obligation (including interest accrued thereon). (B) If any Bank fails to make available pay when due any amount to the Issuing Bank the amount be paid by it pursuant to clause (A) of this subsection, interest shall accrue on such Bank's participation in obligation to make such Letter of Credit as provided in this subsection 3.04payment, for each day from and including the date such payment became due to but excluding the date such Bank makes such payment, at a rate per annum equal to (x) for each day from the day such payment is due to the third succeeding Domestic Business Day, inclusive, the Federal Funds Rate for such day and (y) for each day thereafter the sum of 2% plus the Base Rate Margin for such day plus the Base Rate for such day. (C) If the Borrower shall reimburse any LC Issuing Bank for any drawing with respect to which any Bank shall have made funds available to such LC Issuing Bank in accordance with clause (A) of this subsection, such LC Issuing Bank shall be entitled promptly upon receipt of such reimbursement distribute to recover such amount on demand from such Bank together with interest at its Commitment Percentage thereof, including interest, to the customary rate set by the Issuing Bank for the correction of errors among banks. Nothing in this subsection 3.04 shall be deemed to prejudice the right of any Bank to recover from the Issuing Bank any amounts made available extent received by such Bank to the Issuing Bank pursuant to this subsection 3.04 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit by the Issuing Bank in respect of which payment was made by such Bank constituted gross negligence or willful misconduct on the part of the LC Issuing Bank. The Issuing Bank shall distribute to each other Bank which has paid all amounts payable by it under this subsection 3.04 with respect to any Letter of Credit issued by the Issuing Bank such other Bank's pro rata share (determined based on the Bank's Percentage) of all payments received by the Issuing Bank from the Borrowers in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit when such payments are received.